DST International (DSTi) has signed up the $543 million Catholic Church Insurance to its HiPortfolio/3 system and is receiving increased interest in the investment administration solution from boutique fund managers.
Ian Mathieson, DSTi Australia and New Zealand chief executive officer, said the company was getting more inquiries from boutiques. “Direct dialogue with the boutiques…we’ve had quite a lot of those,” he said. As a result of those discussions some boutiques look to third party administrators, instead of becoming direct users of HiPort/3, but Mathieson said a number of boutiques were still interested in coming on board directly. While most of DST International’s major clients have transitioned to HiPort/3 the company continues to stand by its original commitment that it wasn’t going to force anyone’s hand to change modules. DSTi also recently upgraded its HiPort investment management administration portfolio for client Goldman Sachs JBWere to facilitate the administration of managed account operations. Mathieson said DSTi would consider similar upgrades for other existing clients if they requested it. “The product design is very flexible. It’s able to cater for different people’s operations,” he said.
The brunt of losses from the LA wildfires are expected to be borne by primary insurers and high-risk reinsurance programs, but super funds are nevertheless closely monitoring the possible impact of the fires on catastrophe bond and insurance-linked securities exposures.
Simon HoyleJanuary 17, 2025
